News Corp buys schools software developer

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News Corporation moved into the highly lucrative academic market yesterday when it acquired a 90 per cent stake in an American educational technology company.

News Corp is paying about $360 million (£229 million) in cash for the stake in Wireless Generation, which provides mobile and web software, data systems and professional services for teachers to use in assessing students and in creating customised lessons.

Rupert Murdoch, chairman and chief executive of News Corp, parent company of The Times, said that Wireless was at the forefront of a wave of companies seeking to revolutionise education through new technology.